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This site provides extensive information about the ranges of Edmond de Rothschild Group funds. In particular, it provides simplified access to key fund-related data (performance, net asset values, features) and their commercial or legal documents.

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The identity of the managers presented in this document may change during the life of the product.

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Investment objective

The objective of the Sub-Fund is to achieve long-term optimum growth of the invested capital via investments in debt securities traded on regulated capital and money markets. In particular the Sub-Fund aims to outperform the Bank of America Merrill Lynch 1-15 Year Global Corporate Index.

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Commentary 31/10/2018

October saw credit spreads widen significantly both in Europe and in US, making it one of the worst month of the year with March and June. Looking closer at this market move, the decompression between BBB and A credit spreads has been strong, highlighting the risk aversion among fixed income investors. Primary market issuance has been subdued in comparison with the rest of 2018 as equity market volatility forced many issuers to stay on the sideline and wait for a better window. Investment grade corporate spreads ended the month 10 bps higher in the US and 15 bps higher in the Eurozone. In terms of sector, Autos were the main underperformers both in US and Europe. Concerns over the potential trade war with China, combined with fears of a slowdown in global growth created a sell-off in equities markets that led investors to question central banks' forward guidance. The probability of the a US rate hike in December priced by the forward curve fell to 70% at the end of the month (from above 90% in December). Regarding the ECB, there was no surprise at the October meeting with the deposit rate left unchanged at -0.4% and policy guidance re-affirmed. The purchasing program is still projected to end in December, subject to incoming data. Nonetheless, the ECB acknowledged increased headwinds for the growth outlook in Europe.

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Change in NAV

You are about to download the historical data for a portfolio. Please note that past performance is not an indication of future performance and it may vary over time. They may be affected, for example, by changes in exchange rates

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Net dividends reinvested Past performance and volatility does not guarantee future performance and volatility which may change over time, and can be affected by fluctuating exchange rates. Performance data does not take into account the fees and charges received when issuing and redeeming units.

Performance B-EUR

Cumulative

Annualised

–

–

–

–

–

–

-3.81 %

-2.74 %

–

–

0.31 %

1.21 %

–

–

–

–

Since inception

1.66 %

6.42 %

0.38 %

1.45 %

Since 01/01/2018

1 year*

3 years*

5 years*

Since inception

Cumulative

Share class (B-EUR)

Benchmark

–

–

–

–

–

–

–

–

1.66 %

6.42 %

Annualised

Share class (B-EUR)

Benchmark

–

-3.81 %

-2.74 %

0.31 %

1.21 %

–

–

0.38 %

1.45 %

*Rolling periods

Annual performance

Net dividends reinvested Past performance and volatility does not guarantee future performance and volatility which may change over time, and can be affected by fluctuating exchange rates. Performance data does not take into account the fees and charges received when issuing and redeeming units.

Statistics

Volatility

Tracking Error

Correlation coefficient

Information ratio

Sharpe ratio

Share class B-EUR

Benchmark

Share class B-EUR

Benchmark

Share class B-EUR

Benchmark

Share class B-EUR

Benchmark

Share class B-EUR

Benchmark

1 Year*

1.35 %

1.26 %

0.80 %

–

0.82 %

–

-1.13 %

–

-2.01 %

–

3 Year *

2.14 %

2.00 %

0.59 %

–

0.96 %

–

-1.41 %

–

0.83 %

–

Max. drawdown

Alpha

Beta

Share class B-EUR

Benchmark

Share class B-EUR

Benchmark

Share class B-EUR

Benchmark

1 Year*

-3.92 %

–

-0.02 %

–

0.87 %

–

3 Year *

-3.92 %

–

-0.07 %

–

1.03 %

–

Max. monthly gain Since inception

1.44 %

Max. monthly loss Since inception

-1.71 %

Share class B-EUR

Benchmark

1 Year*

3 Year *

1 Year*

3 Year *

Volatility

1.35 %

2.14 %

1.26 %

2.00 %

Tracking Error

0.80 %

0.59 %

–

–

Sharpe ratio

-2.01 %

0.83 %

–

–

Alpha

-0.02 %

-0.07 %

–

–

Correlation coefficient

0.82 %

0.96 %

–

–

Information ratio

-1.13 %

-1.41 %

–

–

Max. monthly loss

-1.71 %

–

Max. monthly gain

1.44 %

–

Max. drawdown

-3.92 %

-3.92 %

–

–

Beta

0.87 %

1.03 %

–

–

Past performance and volatility does not guarantee future performance and volatility which may change over time, and can be affected by fluctuating exchange rates. Performance data does not take into account the fees and charges received when issuing and redeeming units.

Fund information

Inception Date (Fund)

24/05/2005

Inception Date (Part)

21/07/2014

Legal form

SICAV

Benchmark

ICE BofAML 1-15Yr Global Corp HEUR

Currency (fund)

EUR

Currency (share class)

EUR

Distribution Policy

Distribution

Valuation frequency

Daily

Minimum initial investment

1 Share

PEA eligible

ISIN Code

LU1080015008

AuM (fund)

228 M (EUR)

Regulatory authority

CSSF

EU Regulation

UCITS

Management company

Edmond de Rothschild Asset Management (Luxembourg)

Delegated Management Company

Edmond de Rothschild (Suisse) S.A.

Incorporation

Luxembourg

Representative agent

Paying agent

Maximum management fee

0,750 %

Current management fee

0.750 %

Subscription and redemption conditions

Daily before 12.30 am C.E.T. on day's net asset value

Subscription fee

1.00 % max

Redemption fee

Performance fee

Fund documentation

(1) The rating grades the funds on a scale from 1 to 7. This rating system is based on the average fluctuations of the net asset value over the past five years. It corresponds to the variation range of the portfolio upwards and downwards. If the net asset value is less than 5 years old, the rating is determined by other regulatory calculation methods. Historical data such as those used to calculate the rating may not be a reliable indication of the future risk profile. The current category is neither a guarantee nor an objective. Category 1 does not signify a risk-free investment.